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Income is hard-earned and precious in terms of future needs. Don’t think of it as ‘easy come, easy go’ as many are all too wiling to do. To ensure one can manage one’s needs and not go into debt it is advisable to put some aside each income day. That little next will grow in time and when emergencies arise it will be on hand. If, on the other hand, one has already stuck bad times and has debts as a result then there is a way of managing it.

For this exercise you need a special book. It can be an exercise book in which you rule some columns, or the more specialised ledger bought from the store. On one page you need to write all your debts, include such things as rent, expected cost of shopping, and such. It matters not the quantity or size at this stage. Make a total at the bottom.

On the opposite page write out all your income. You will quickly see how much short you are between the two columns. Now here comes the tricky bit.

Subtract the rent and expected shopping from the expenditure total. Now decide what are the most pressing bills you have to pay and the total of them? Ring each company and offer a smaller payment per week or fortnight over the next couple of months. Don’t over reach yourself and make sure this is doable.

Make a note of this commitment on the debit side and total that to the rent and shopping amounts and make sure you have covered them. Now take a little extra, whatever you can afford, even if it’s as low as $5 or $10 and slip that into an envelope and put it in a safe place. Don’t spend a cent unnecessarily. Forget the cups of coffee and luxury items because they don’t fit the budget.

Slowly work your way out the debt situation and don’t buy anything for which you can’t pay cash. Cut up the credit card and use only cash to purchase your goods. Rent can be paid through the b-pay system is possible, along with the bills from other companies. This will save you time and effort in running around.

This program works and all it takes is discipline and time to work out the budget and stick to it. In time the little bit you set aside each income day will give you security to deal with the unexpected humps as they arise. They might also be enough to provide an outing or a holiday once in a while. Under no circumstances relax about managing debt because you will never regret it.